PAR Technology (NYSE:PAR) Reaches New 1-Year Low – Time to Sell?

PAR Technology Corporation (NYSE:PAR) hit a new 52-week low on Wednesday . The company traded as low as $21.25 and last traded at $21.4660, with a volume of 763258 shares traded. The stock had previously closed at $23.25.

Analysts Set New Price Targets

Several research analysts have recently commented on PAR shares. BTIG Research reiterated a “buy” rating and set a $60.00 target price on shares of PAR Technology in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of PAR Technology in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and a consensus target price of $64.00.

PAR Technology Stock Up 2.3%

The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The stock has a market cap of $845.35 million, a P/E ratio of -9.73 and a beta of 1.35. The firm has a 50-day simple moving average of $32.78 and a two-hundred day simple moving average of $39.14.

Insider Activity at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total transaction of $230,945.00. Following the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at $2,539,719.93. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was bought at an average cost of $34.56 per share, with a total value of $864,000.00. Following the completion of the acquisition, the insider directly owned 3,613,898 shares in the company, valued at approximately $124,896,314.88. This represents a 0.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 196,035 shares of company stock valued at $7,103,730. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of PAR Technology by 8.0% in the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock valued at $1,255,000 after buying an additional 1,515 shares in the last quarter. AQR Capital Management LLC bought a new position in PAR Technology in the first quarter valued at approximately $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PAR Technology by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 874 shares during the last quarter. Jones Financial Companies Lllp raised its position in PAR Technology by 186,466.7% during the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock valued at $343,000 after purchasing an additional 5,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in PAR Technology by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 51,316 shares during the last quarter.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.